The health insurance coverage ratio as of 2015 was 63.4 percent, meaning that for every 1-million-won medical bill 634,000 won was covered by the health insurance scheme. According to estimates by the Ministry of Strategy and Finance, the health care insurance scheme's balance will likely turn to the red beginning next year. The surplus of 21 trillion won as of this year would be exhausted by 2023. That's largely because the cost of caring for senior citizens will skyrocket as the current aging trend is likely to continue unchecked.

Nonetheless, presidential candidates are vying to put out pledges that they would increase the coverage ratio by making people pay less in their premium payments. For example, Bareun Party contender Yoo Seung-min promised that he would lower people's out-of-pocket cost below the 20-percent level, meaning that the coverage ratio of more than 80 percent.

Shim Sang-jung, the candidate representing progressive Justice Party, also said she would increase the health care insurance coverage ratio up to 80 percent. People's Party contestant Ahn Cheol-soo said he would introduce a new scheme by which the government sets a ceiling on people's out-of-pocket cost.

if any of the candidates' pledges is materialized, the time it takes for the health insurance surplus to run down would be shortened. Pension experts said there is no way around it and the only way for the coverage ratio to be raised to 80 percent is bringing up the premium by 30 percent. But no candidate is honest enough to come forward and say premiums must be raised at the same time, out of fears of losing support.